openPR Logo
Press release

Toluene Market is expected to reach $23,393 million by 2023 | Top players are Koch Industries, JX Nippon Oil and Energy, Chevron Phillips, Nova Chemicals, Sherwin-Williams.

02-22-2019 07:21 PM CET | Health & Medicine

Press release from: Allied Market Research

Toluene Market is expected to reach $23,393 million by 2023 | Top

Toluene, formerly known as toluol and methylbenzene, is an aromatic hydrocarbon that is used as an industrial feedstock and as a solvent. Toluene is regarded as an aromatic compound because of the presence of a benzene ring in its chemical structure. Toluene exhibits beta-oxidant, depressant, hepatoprotective, anesthetic, and neurotransmitter functions.

Get the Sample Report: https://www.alliedmarketresearch.com/request-sample/1983?utm_source=openpr&utm_medium=Niranjan

Toluene Market Report, published by Allied Market Research, states that the toluene market was valued $16,597 million in 2016, and is projected to reach $23,393 million by 2023, growing at a CAGR of 5.0% from 2017 to 2023. The benzene & xylene segment held more than half of the total market share in 2016.

Toluene is produced in the process of manufacturing saccharin, antiseptics, and paint thinners. It is also employed in making perfumes, antifreeze dyes, and medicine and is utilized to produce the polymers that create plastic and nylon. It is naturally found in coal tar and is a byproduct of gasoline and coke. The primary sources of toluene are the industries that manufacture and use it in production.

The industries that manufacture toluene and further use it in production are oil refiners, chemical industries, rubber manufacturers, pharmaceutical industries, metal degreasing, printing, manufacturers of paints, varnishes, and lacquers. In addition, toluene is extensively manufactured by the process of catalytic reforming and account for half of the global production volume. Furthermore, coke oven light oil (COLO) and steam cracking of naphtha represent an opportunistic source for toluene from coal processing into coke.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/1983?utm_source=openpr&utm_medium=Niranjan

Currently, the global toluene market witness numerous opportunities, owing to the rapid increase in development of the petrochemical industry in Asia-Pacific and LAMEA. Toluene has numerous commercial & industrial applications and is a solvent in paints, lacquers, thinners, glues, correction fluids, and nail polish removers, and is used in the printing and leather tanning processes.

Toluene is used as a fullerene indicator and is a raw material for toluene diisocyanate. It is used as a solvent in carbon nanotubes, such as fullerenes. Moreover, biological usage of toluene, such as in biochemistry experiments that includes breaking or disrupting red blood cells in order to extract hemoglobin acts as a factor that boost market development.

The benzene & xylene segment, accounted for more than half share, in terms of volume, in 2016. Moreover, an increase in demand for toluene and the polyester sector is expected to result in higher volumes of toluene being converted into mixed xylenes & para-xylene. However, a decrease in demand for fossil fuels in industrialized nations and an increase in a trend toward the consumption of bio-based fuels, such as ethanol is expected to restrict the market growth to some extent.

Key Findings of the Toluene Market :
• In terms of value, the benzene & xylene derivative type is anticipated to show the highest growth rate of 5.2% during the analysis period.
• Asia-Pacific is projected to maintain its lead throughout 2023 and is projected to grow at a CAGR of 5.3%, in terms of value.
• The drugs segment occupied nearly half of the total market in 2016.
• Germany occupied nearly one-third of the total Europe toluene market in 2016.
• In terms of value, Japan is expected to grow at a CAGR of 4.3% from 2017 to 2023.
• In 2016, Asia-Pacific accounted for more than half of the total toluene market, and are expected to continue this trend, due to increase in demand for toluene in petrochemical and oil & gas industries, specifically in China, India, Japan, Brazil, and other developing countries.

The major companies profiled in the report include ExxonMobil Chemical, Sinopec, Shell, Reliance Industries, ConocoPhillips, Valero Energy, BASF, BP Chemicals, China National Petroleum, and Mitsui Chemicals.

Chapter: 3. MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE

3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS

3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Growing demand for toluene among application
3.4.1.2. The growth of the dyes industry among Asia-Pacific
3.4.2. Restraints
3.4.2.1. Discovery of shale gas in North American markets
3.4.2.2. Limitations in sourcing of toluene
3.4.3. Opportunities
3.4.3.1. Production of toluene from shale gas

3.5. MARKET SHARE ANALYSIS, 2015

About Us:-

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us:-

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Toluene Market is expected to reach $23,393 million by 2023 | Top players are Koch Industries, JX Nippon Oil and Energy, Chevron Phillips, Nova Chemicals, Sherwin-Williams. here

News-ID: 1611259 • Views: 411

More Releases from Allied Market Research

Treasury and Risk Management Market Insights 2020: Top Factors That Are Leading …
The Treasury and Risk Management Market report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage. Management of large quantity of data in a centralized manner by
Service Integration and Management Market 2020: Technical Signs Point Rapid Grow …
The Objective of the “Global Service Integration and Management Market ” report is to depict the trends and upcoming for the Service Integration and Management Market industry over the forecast years. Service Integration and Management Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2020 to 2027 mulling over 2019 as the base year of the
Wealth Management Platform Market 2020 Technical Signs Point Rapid Growth In Com …
The Objective of the “Global Wealth Management Platform Market ” report is to depict the trends and upcoming for the Wealth Management Platform Market industry over the forecast years. Wealth Management Platform Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2020 to 2027 mulling over 2019 as the base year of the market study. Attentiveness
Deep Learning Market Size 2020: Innovation and Product Optimization With Dominat …
Allied Market Research published a new report, titled, " Deep Learning Market " The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage. Rising need

All 5 Releases


More Releases for Toluene

Toluene Sulfonic Global Market Research Report 2018
GET SAMPLE REPORT @ https://www.research2reports.com/sample-report-chemical/toluene-sulfonic-market/79768 Toluene Sulfonic Report by Material, Application, and Geography � Global Forecast to 2022 is a professional and in-depth research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, united Kingdom, Japan, South Korea and China). The report firstly introduced the Toluene Sulfonic basics: definitions, classifications, applications and market overview; product
Toluene Diisocyanate Industry Insights, Outlook and Forecast up to 2023
Transparency Market Research has released a new market report titled “Toluene Diisocyanate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global toluene diisocyanate market was valued at US$ 6.72 Bn in 2014 and is likely to reach US$ 10.27 Bn in 2023, expanding at a CAGR of 4.8% from 2015 to 2023. In terms of volume, demand for toluene
Toluene Market insights, Regional Outlook 2016-2024
Toluene Market size demand is mainly driven by growth in applications across industries petrochemical, building & construction, oil & gas, paints, resins, printing, leather, pharmaceuticals and rubber industry. Purchase Toluene Market Report by calling Global Market Insights, Inc. at 1-888-689-0688 (Toll Free) or 1-302-846-7766. Rising demand for industrial feedstock and solvents will further boost the market for the product. Formula one cars use toluene as an anti-knock fuel since it does not
Toluene Market Research Report - Forecast to 2027
Global Toluene Market Information by type (Benzyl Chloride, Trinitrotoluene (TNT), Benzaldehyde, Toluene Diisocyanate (TDI), Benzoic Acid and Other) by application (Industrial Solvent, Production of Explosives, Production of Benzene, Gasoline Additive and Other) - Forecast to 2027 The market for Toluene is segmented on the basis of type Benzyl Chloride, Trinitrotoluene (TNT), Benzaldehyde, Toluene Diisocyanate (TDI), Benzoic Acid and Other and on basic of application Industrial Solvent, Production of Explosives, Production of
Vinyl Toluene Market - Global Industry Analysis 2024
Vinyl toluene is a colorless liquid having an aromatic odor. It is usually sold as a functional monomer or as a mixture of isomers. Vinyl toluene is been used to modify alkyd resins since many years. The addition of vinyl toluene compound provides higher compatibility with both aromatic and aliphatic solvents which enhances the flexibility in formulating paints. Vinyl toluene is extensively used in the paints and coatings applications across
Toluene Diisocyanate Market - Global Industry Analysis 2023
Transparency Market Research has released a new market report titled “Toluene Diisocyanate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global toluene diisocyanate market was valued at US$ 6.72 Bn in 2014 and is likely to reach US$ 10.27 Bn in 2023, expanding at a CAGR of 4.8% from 2015 to 2023. In terms of volume, demand for toluene